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Market Conditions in Hennepin County : Real Estate Advice

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  • Local Info0
  • Home Buying7
  • Home Selling0
  • Market Conditions0

Activity 32
Wed Apr 10, 2013
Dean Foerster answered:
It's the Aquila Neighborhood. Here's a map of the neighborhoods in SLP:
0 votes 3 answers Share Flag
Sat Feb 9, 2013
Chase Lenz answered:
That property has been sold.
Email or call with more specific questions or any other properties you would like info. on.

0 votes 4 answers Share Flag
Sun Dec 9, 2012
Mike Kelcher answered:

Here's a few things you should know. This property is bank-owned and sold "as-is". For some reason, it's not currently available for showing at this time...but I'd be happy to show it to you as soon as that changes, if possible. Call me to set that up.

As for the crime rate... Realtors aren't the experts when it comes to that type of thing and so we don't give advice outside of our area of expertise. We do however refer people to the experts. I won't guess about such things...but the police are relative experts on such things. The info on this link might help.

If you would like to see that home, or if I can help in some other way, call me. 763-228-2967 ~mike
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0 votes 4 answers Share Flag
Mon Oct 29, 2012
Shantelle Odegard answered:
$200 Assoc Fee Frequency: Monthly Assoc Fee Includes: Snow/Lawn Care, Outside Maintenance, Hazard Insurance, Building Exterior, Professional Mgmt

This home has an offer on it that has been signed by the seller and is waiting for the current lender to approve a short sale. I have other similar properties available, check them out at ... more
0 votes 7 answers Share Flag
Thu Dec 6, 2012
Thomas Drayton answered:
Sorry, I don't see anything in that area currently listed on MLS. The closest property is 5428 Columbus Avenue, listed at $229,000.

I would be happy to setup a custom MLS search for you that would email you results daily that fit your criteria! Send me an email with details regarding what you're looking for and I will take care of it for you.

Thomas Drayton,
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0 votes 1 answer Share Flag
Wed Oct 3, 2012
Christopher Block answered:
Hey Charles I called you and I got cut halfway through the VM. If you have not already been helped feel free to give me a call.

0 votes 2 answers Share Flag
Wed Oct 16, 2013
Ben Johnson answered:
I am involved in 6 to 10 transactions a month and can tell you that it is very common for sellers to contribute to a buyers closing costs.
0 votes 15 answers Share Flag
Tue Apr 10, 2012
Elizabeth Fuller answered:
I suggest you consider the fact that few lots are available, this lot is somewhat unusual in confiuration for the area; remember, market really means in real estate terms, what will someone pay to own it? The most important factors are still location, availability, use potential, cost to develop. Examine it in that light and see what you determine. Liz ... more
0 votes 2 answers Share Flag
Thu Jun 25, 2015
Jennifer Hennemuth answered:
I'm not exactly sure what you are asking, but the property listings will indicate at the top the sq footage, foundation size and then the finished sq footage below ground or basement. Under room count it will specify what rooms are in the basement, if any. ... more
0 votes 7 answers Share Flag
Mon Jul 29, 2013
Marie Souza Team answered:
This all depends on the location. In our area the most popular layout are Ranches, Capes & Colonials. I would contact your Real Estate Agent, who can better inform you sales for different style homes in your area with a CMA (Comparative Market Analysis).
Good luck!
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0 votes 3 answers Share Flag
Tue Feb 22, 2011
Jennifer Kirby answered:
Hi Brent,

For Minneapolis, it might really come down to price as to where you want to find a starter home. Camden, Nokomis, and Southwest areas of Minneapolis have some great "starter homes", and of course if travel to work is a concern you will want to think about commute time. There are many foreclosures that can be a good deal but might need work, so you will want to think about what type of starter maintanence you desire, handyman special or good to go.

I wish the answer was more simple, but Minneapolis has so many opportunites with its housing because of the market, what you consider a starter home will help determine the "best area" for you. Let me know if I can help you narrow things down!

Jennifer Kirby-Broker
Kirby Fine Homes
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0 votes 7 answers Share Flag
Fri Feb 7, 2014
Steve Hoem answered:
Like any sale of property, you'll want to look at your goals from the sale. If you definitely want to sell in the near future (under 5 years), then sooner would be better as it limits your exposure to risk of downward price pressure.
If you don't mind hanging onto it as an investment for 5 or more years, since it's rented then perhaps hanging on until appreciation comes back may be the right answer.
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0 votes 23 answers Share Flag
Wed Oct 27, 2010
Kelly Knaus answered:
Around 600 to 700 depending on the amenities and if any utilites are included.
0 votes 4 answers Share Flag
Mon Oct 26, 2009
CCC answered:
1. Short Sales. Properties are priced at certain price, that should be according to market value, and sold at acceptance market price set by servicer / lender. In the event that property was priced very low, lender counter to a higher price and that is one source of difference.

2.- Some properties are listed at break even point. This means that if the roperty was sold for 200k in 2004 it must sell for around 219k so all the expenses are covered and seller does not need to bring money at closing or negotiate with servicer/lender. sometimes, this properties drop prices or get an offer below listing price (since there is no real support) and offer is accepted on a short sale agreement or seller bringing cash at closing.

3. REO/Foreclosures. There are bidding wars. This is because a property has a lot of demand and buyers want the property and are willing to pay a premium (more money) for the property and offer, way more than listing price.
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0 votes 4 answers Share Flag
Mon Jun 15, 2009
Elizabeth Fuller answered:
This could vary from area to area, but I believe they have been fairly stable; Minnesota Multi-Housing and the Metro Council are good resources for statistics and what is considered market rate in various communities and complexes with certain amenities. Liz, Associates Realty, 612-986-4105 ... more
0 votes 1 answer Share Flag
Fri Oct 22, 2010
Jackie Funk answered:
Gary: Are you by chance a first time home buyer (or haven't owned a home for three years or more)? If the answer is yes, there is a tax credit of $8k if you purchase by December 1, 2009. An individual can amend their taxes and receive the credit earlier (check with an account to see how this works) and perhaps that can be used to pay your car off? 5% apr seems pretty high to refinance a car, but I don't know about cars, my specialty is homes. Good luck to you - it would be nice if you can buy this year since the traditional RE market is starting to rebound already. ... more
0 votes 5 answers Share Flag
Mon Apr 20, 2009
Jane Revsbech answered:
We provide market updates monthly and this is an excerpt from our March report for Minnetonka.
74% (63 of 85) of the homes pended during the month of March were priced $350,000 or below. Currently 53% of the homes for sale (203 or 385) are priced at $350,000 or below. A 6 month supply of homes is considered a balanced market and currently there is a 4 month supply of homes in this price range. This could indicate a shortage of inventory going into a spring market which could result in stabilizing (or even rising) prices!
Data compiled from RMLS on March 31, 2009.
In other words - yes, Mike, there is a market for homes priced around $350,000. Since the local FHA loan limit is $365,000 and many of the buyers are using this financing, this price range has been selling well.
If you would like a market evaluation, contact us.
... more
0 votes 2 answers Share Flag
Fri Aug 31, 2012
Aaron Dickinson answered:
Prices on houses may fall a little further in the next year but interest rates are unlikely to be this low 12 months from now, which could dramatically affect affordability. If rates go up to 6% again (which is still very low) then you're losing $1000's in buying power.

The conditions today are great to buy... we don't know if it will get better or worse in a year so it is a gamble. I'm of the mind to lock in a good situation now versus HOPING that a good will get better. Compared to what the market was a few years ago, we're in so much better of a position.
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0 votes 6 answers Share Flag
Sun Jan 9, 2011
Jackie Funk answered:
Hi Stieg:

The best way to know is to meet with a real estate professional that knows your market. As you can probably guess there are a lot of factors to consider with your question. While most of the Minneapolis metro market has seen a decrease, some properties are still selling at full or above asking price.

So, without further ado, my suggestion is for you to meet with a real estate professional in your area. Most of us meet with prospective clients for free. Best of luck to you!
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0 votes 5 answers Share Flag
Sat Feb 21, 2009
Scott Hutchinson & Sean Sovis answered:
There are some buyers out there, and the Western Burbs have been doing pretty good; however, the cost of dirt right now is pretty cheap (when compared to a few years ago). There are many "ready" lots for the consumer to choose from. There are still some great strategies to sell and market lots though. Best of luck! ... more
0 votes 6 answers Share Flag
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